The annual competition, scheduled for Feb. 19, 2013,
offers a total prize package of $100,000 to the student teams that develop and
present business plans for viable new ventures. Registration for the
competition opens Sept. 12 and runs through Oct. 26.

"The callout will outline the competition for the
students, offering tips to those looking to launch a unique product or the next
big service idea," said Richard Cosier, the Avrum and Joyce Gray Director
of the Burton D. Morgan Center. "This annual competition, which is open to
all Purdue students from any discipline, emphasizes the fundamentals of turning
an idea into a profitable, viable commercial venture."

Teams composed of undergraduate students participate in
the Black Division, and teams of faculty, staff, graduate students, alumni and
area business people compete in the Gold Division. Top prize in the Black
Division is $20,000, while the winner of the Gold Division receives $30,000.

The late Burton D. Morgan was a Purdue alumnus who started
50 companies, six of which have become major corporations, including Morgan
Adhesives, one of the world's largest makers of pressure-sensitive adhesives.
He also was president of Basic Search Co., an idea-development firm, and wrote
several books on entrepreneurism.

The entrepreneurship competition started in 1987 with an
endowment gift to Purdue from the Burton D. Morgan Foundation. The Morgan
Foundation also funded the $7 million, 31,000-square-foot Center for
Entrepreneurship.

The center leads Purdue's Kauffman Campuses Initiative,
which is focused on making entrepreneurship education available across the
university's main and regional campuses, enabling any student, regardless of
field of study, access to entrepreneurial training.